《中級財務(wù)會計下FA3》課程教學(xué)大綱.docx

1、中級財務(wù)會計(下)(FA3)課程教學(xué)大綱課程代碼：INAC2003課程性質(zhì)：專業(yè)必修課程授課對象：會計學(xué)專業(yè)(CGA)開課學(xué)期：春/秋總學(xué)時：54學(xué)時學(xué)分：3學(xué)分講課學(xué)時：54學(xué)時指定教材：Donald E. Kicso, Jerry J. Weygandt, and Terry D. Warfield, Intermediate Accounting, Twelfth Edition , John Wiley & Sonslnc.參考書目：1. 財政部會計司編寫組.企業(yè)會計準(zhǔn)則講解.人民出版社.2() 1()年第1版2. 葛家渤、杜興強等.會計理論.復(fù)旦大學(xué)出版社.2005年第I版3

2、. 哈塞(Hussey,R.),歐(Ong, A.).國際財務(wù)報告準(zhǔn)則案頭參考：概覽、指南和詞典.曲曉輝等譯.人民郵電出版社.2008年第1版4. 中華人民共和國財政部.企業(yè)會計準(zhǔn)則2006.經(jīng)濟(jì)科學(xué)出版社.2006年第1版5. 罕尼梵格魯寧.國際財務(wù)報告準(zhǔn)則：實用指南.北京國家會計學(xué)院組織翻譯.中國財政 經(jīng)濟(jì)出版社.2007年第1版6. 國際財務(wù)報告準(zhǔn)則網(wǎng)站 hUD：www.ifrs.or#IFRSs/Pages IFRS.asnx教學(xué)目的：Financial Accounting: Liabilities & Equities FA3 is the third in a seque

3、nce of five courses in the financial accounting stream in the CGA program of professional studies. It is an intermediate financial accounting course (hat builds on the basic understanding of financial accounting (hat you have acquired in previous financial accounting courses.The primary aim of FA3 i

4、s to assist you in developing professional competence and skills that will enable the students toprepare financial statements, focusing on the liabilities and owners' equity elements of the balance sheet, to choose appropriate financial accounting and reporting policies in both specific and gene

5、ral circumstances, to determine the substance of a business transaction and critically assess (he ability of the GAAP framework to reflect its substanceand to analyze a financial accounting situation, identify issues and alternatives, then formulate recommendations using ethical, professional judgme

6、nt. This course integrates the use of computer software to solve accounting problems.Describe financial statement disclosures fbr pension costs and obligations, (Level I)Questions：1、What is the pension plan?2、What is the defined contribution plan, and what is the defined benefit plan?3、How are payme

7、nts defined plans determined?4、What causes fund assets to change?5、How is pension cost measured?6、What disclosure is required in the financial statements?7 What does the balance sheet account include?Lesson 8Accounting changes課時：1周，共3課時 教學(xué)內(nèi)容Companies must choose accounting policies in many areas. Wh

8、at happens if they later change (heir minds about a policy? Companies must make estimates for accounting measurements in many areas. What happens if better estimates become available? Finally, what happens if a company discovers that prior financial statements were in error? This lesson covers these

9、 three situations in-depth, along with the common motivations for accounting policy choice and change. This lesson also reviews an accounting policy choice with ethical ramifications.8.1 Theoretical foundationExplain the effect that accounting changes have on the consistency of financial infonnation

10、.(Level 1)Describe the three types of accounting changes changes in policy, changes in estimate,andcorrections of errors. Be able to classify a given change correctly. (Level I)Explain the difference between the all-inclusive concept of income and the currentoperating performance approach. (Level 2)

11、8.2 Relrospective treatment with restatementAccount for an accounting change appropriately, through retrospective treatment withreslatement, relrospective treatment without restatement, or prospective treatment. (Level 1)8.3 Retrospective treatment without restatementAccount for an accounting withre

12、statement, retrospective (Level 1)8.4 Prospective approachAccount for an accounting withrestatenient, retrospectivechange appropriately, through retrospective treatment without restatement, or prospectivechange appropriately, through relrospective treatment without restatement, or prospectivetreatme

13、nttreatment.treatmenttreatment.(Level I)8.5 Disclosure and statement of cash flowsPrepare financial statement disclosures, as required, to accompany an accounting change.(Level I)Reflect an accounting change on the statement of cash flows. (Level I)8.6 Accounting policy choice: Case analysisEvaluate

14、 accounting policies in an environment ofchanging user objectives. (Level 1)Questions：1、What are the types of accounting changes?2、What is the change in policy?3、How do you account fbr a change in accounting policy?4、How do you account fbr a change in accounting estimates?5、How do you account for a

15、correction for error?6、What are the important issues regarding accounting policy choice?Lesson 9 Statement of cash flows and case analysis課時：1周，共3課時教學(xué)內(nèi)容This lesson lakes a broad look at the nature of financial information and capital markets. 1( includes a suney of the underlying variables of a firm

16、 that may dictate accounting policy choice. It also explores the analytical tools fbr financial statement analysis that relate to an entity's financial structure and asset management, such as vertical analysis, horizontal analysis, and ratio analysis. The limitations of these tools arc summarize

17、d. This lesson includes a comprehensive example of the cash flow statement.9.1 Theoretical foundationDescribe the need for, and the usefulness of, (he statement of cash flows (SCF). (Level I)9.2 Classification of cash flowsDifferentiate between operating, financing, and investing activities. (Level

18、I)9.3 Preparation of the statement of cash flowsPrepare a statement of cash flows using both the direct and indirect methods. (Level 1)9.4 Disclosure and special issuesDescribe the manner of presentation and the required disclosure on the SCF. (Level 1)9.5Interpretation of the statement of cash flow

19、sAnalyze and interpret data provided in the SCF to evaluate the activities of a firm during aparticular period. (Level 2)9.6 Predictive ability of the statement of cash flows:Distinguishing profit and cash flowDescribe the importance of the statement of cash flows in assessing thcqualityofcompany ea

20、rnings. (Level 1)9.7 Computer illustration 9-1: Spreadsheet approachPrepare an SCF using a spreadsheet. (Level I)9.8 The CGA case-analysis approachApply the CGA case-analysis approach. (Level I)Questions：1、What information docs the cash flow statement provide?2 How to classify cash flows?3、Explain t

21、he importance of cash flow.Lesson 10 Financial statement analysis and EPS課時：2周，共6課時教學(xué)內(nèi)容Earlier in this course we discussed horizontal, vertical, and ratio analysis techniques in the areas of financial structure and asset management. This lesson extends the application of these tools to an entity'

22、;s reported profit performance. This lesson also deals with earnings per share calculations and provides an overview of the strategic choices that add value and create returns for stakeholders.10.1 Profitability analysisPerform horizontal and vertical analysis on statement of income accounts and int

23、erpret thedata obtained. (Level 1)Calculate ratios used in financial statement analysis to analyze profit performance andexplain the information supplied by each ratio individually and collectively, (Level 1)10.2 Earnings per share: BasicCalculate basic earnings per share. (Level 1)10.3 Earnings per

24、 share: DilutedIdentify the circumstances (hal require disclosure of diluted earnings per share and performthe calculations. (Level 1)10.4 Earnings per share: Reporting requirementsPrepare financial statement disclosures related to EPS. (Level 1)10.5 Earnings per share: ExamplesExplain the various m

25、easures of operating performance (EPS. ROA, ROE. or ROI), thcirsignificance, and the underlying factors or strategics that produce return. (Level 2)10.6 Strategic analysisIncorporate observations drawn from ratios relating to liquidity, efficiency, equity position,and equity coverage with (rends and

26、 conclusions relating to profitability. (Level 1)10.7 Overview of financial statement analysisExplain the effects of accounting policy choices and various financing alternatives on ratioanalysis. (Level 1)Questions：1、What is market efficiency?2、What is vertical analysis?3、What is horizontal analysis

27、?4、How is ratio analysis limited?5、What should analysts keep in mind about financial analysis?6、What kind of infonnationcanEPS tell the users of financial statements?There are two financial accounting courses subsequent to FA3 in the CGA program of professional studies. Financial Accounting: Consoli

28、dations & Advanced Issues FA4J deals with consolidations, foreign currency, income tax allocations, and non-profit organizations. Accounting Theory & Contemporary Issues ATI deals with accounting issues related to specialized sectors of business, industry, and government, and with current is

29、sues in accounting policy and theory.Lesson 1 Shareholders' equity課時：2周，共6課時教學(xué)內(nèi)容FA3 starts by addressing equity accounting issues in the context of a partnership. Partnerships are often less complex than corporations, but they can have some interesting twists. Partnerships may not be a common fo

30、rm of business in your country, but they arc quite common in North America and Britain, and they play an important part in the global business world. For this reason, it is important that you understand them.This lesson reviews the basic legal structure of a partnership and explores various accounti

31、ng issues such as partnership formation, dissolution, profit distributions, and admission as well as withdrawal of a partner. Computer illustrations 1-1, 1-2, and 1-3 cover the calculation of partnership profit, bonuses, and liquidation using a spreadsheet program. This lesson concludes with a descr

32、iption of ethical accounting policy choice and an introduction to case analysis. You practise the case analysis approach described in this lesson as you work through the course.1.1 Theoretical foundationExplain the nature of equity.Explain the nature of a corporation, and evaluate the advantages and

33、 disadvantages of thecoiporate form of business.1.2 Issuance of share capitalAccount for the issuance of shares for cash or other consideration and transactions relatingto subscriptions receivable.1.3 Relirement of share capitalAccount for the retirement of shares and explain the meaning of the gain

34、 or loss that results.1.4 Retained earningsExplain the nature of retained earnings and appropriations of retained earnings and recordentries for items affecting retained earnings.1.5 Dividends, stock dividends, and stock splitsCalculate dividend distributions, acknowledging various dividend entitlem

35、ents. Account for a stock split and a stock dividend and explain the substance of the transactionsand the "value" received by the recipient.1.6 Siatement of cash flowsPrepare appropriate disclosures on the statement of cash flows and in the notes to thefinancial statements (o reflect equit

36、y transactions.Prepare a statement of changes in equity.Questions：1、How is a Equity defined?2、What advantages do corporationsenjoy over other business entity?3、How do you account for the insurance of shares ?4、How is share retirement handled ?5、How are treasury shares accounted for ?6、What are retai

37、ned earnings?7、How are dividendsallocated ?8、How are stock splits and dividends accounted for ?Lesson 2 Complex debt and equity instruments課時：2周，共6課時 教學(xué)內(nèi)容This lesson explores current and long-term liabilities, beginning with the recognition criteria that must be met in order for a liability to be re

38、corded. These criteria are used to evaluate accounting policies and practices in a variety of liability, or potential liability, scenarios.The lesson continues the analysis of liabilities with a comprehensive look at bonds payable. Topics include the nature of debt, calculation of issue price, cost

39、of bond debt, treatment of bond retirements, cash flow disclosures, and accounting fbr debt that is repayable in foreign currency. This lesson also reviews disclosures related to liabilities and financial instruments.2.1 Classification issuesExplain the nature of debt as well as equity and classify

40、financial instruments according totheir terms. (Level 1)2.2 Debt convertible at the investor's optionAccount for convertible bonds, convertible at the investor's option. (Level 1)2.3 Debt convertible at the issuer's optionExplain the valuation problems that arise when recognizing a conve

41、rsion option on theissuance of convertible debt. (Level 1)2.4 Computer illustration 2-1: Convertible debt2.5 Share-based compensationBe able to explain the issues inherent in stock-based compensation.(Level 2)2.6 DerivativesExplain the nature of a derivative instrument and its accounting treatment.

42、(Level 2)2.7 Statement of cash flows and disclosuresPrepare appropriate statement of cash flows disclosures reflecting typical transactions forfinancial instruments. (Level 1)Describe the three areas of required disclosure fbr financial instruments.Questions：1 What is a financial instrument ? How ar

43、c financial instruments classified ?2 How are hybrid financial instruments handled ?3、What are the accounting patterns for stock options ?4、How should public companies account for employee stock options?5、What are the disclosure requirements for all financial instruments?Lesson 3lnvestincnts: Curren

44、t and non-current課時：2周，共6課時教學(xué)內(nèi)容Shareholders' equity is defined as a residual on the financial statements; however, it does have very specific components. This lesson includes an in-depth analysis of these components and a review of the theoretical and moral foundations of corporations and equity

45、. It also covers established accounting principles for accounting for share transactions, retained earnings, and dividends.3.1 Nature and classification of investments in securitiesDescribe the nature of investments in equity and debt securities and account for them undereach of the following method

46、s:_ amortized cost method (Level 1)_ fair value method (Level 1)3.2 Acquisition cost for equity securitiesIdentify what constitutes a strategic investment in equity securi(ies.(Level I)3.3 Accounting by the cost methodDefine and describe (he three methods of accounting for strategic investments in e

47、quitysecurities, and identify the circumstances where each is appropriate. (Level 1)3.4 Fair value methodApply the amortized cost, equity, and fair value methods of accounting for non-currcntinvestmcnts in equity securities. (Level 1)3.5 Equity methodApply the amortized cost, equity, and fair value

48、methods of accounting for non-currentinvestments in equity securities. (Level I)3.6 ConsolidationExplain what is meant by consolidated financial statements and when they should beprepared. (Level 3)3.7 Impairment lossesCalculate and account for impairment losses on investments in debt and equity scc

49、urities(Lcvcl 1)3.8 Disclosure and cash flow reportingDescribe the required financial statement disclosures for non-current investments in equitysecurities. (Level I)Questions：1、Distinguish between debt and equity securities.2、What factors indicate that control exist between an investor and invested

50、? How would such an investment be reported?3、Why might public company change its accounting method for a long term investment from coast to equity?Lesson 4Revenue and expense recognition課時：2周，共6課時教學(xué)內(nèi)容This lesson addresses the classification rules for financial instruments. A financial instrument mus

51、t be classified as a liability if (here are payments required and as equity if it represents a residual, or risky, interest in net assets. This primarily affects classification of preference shares that have to he repaid. Legally these shares are equity, but in substance they are a liability. If a f

52、inancial instrument has component parts, debt and equity, the components have to be separated on initial recognition.This lesson provides an in-depth review of accounting for two such hybrid instruments: bonds convertible at the investor's option and bonds convertible at the issuer's option.

53、 It also includes a computer illustration on the subject of convertible debt. Issues related to share-based compensation and derivatives are also addressed. The lesson concludes by covering the cash flow statement and disclosure notes associated with complex financial instruments.4.1 Revenue recogni

54、tion conceptsExplain (he theory underlying current recognition practices for various sources of revenue.(Level 1)4.2 Revenue recognition al deliveryDescribe the criteria fbr recognizing revenue at time of delivery. (Level 1)4.3 Revenue recognition before and after deliveryDescribe the criteria fbr r

55、ecognizing revenue before and after delivery. (Level 2)4.4 Revenue recognition by effort expendedApply (he percentage-of-completion method of accounting for revenue from long-termcontracts. (Level 1)4.5 Expense recognitionApply the definitional approach to expense recognition to determine when costs

56、 should becapitalized and apply the expense recognition principle to determine when costs should beexpensed. (Level 1)4.6 Predictive ability of the income statement: Revenues and expensesProvide examples (hat illustrate how reported earnings can be impacted by revenue andexpense accounting and the i

57、mpact this has on interpreting the reported eamingsinformation. (Level 1)4.7 Ethical considerationsDecide whether the choice of a particular accounting policy or procedure is ethical underthe circumstances. (Level 1)1、Under the revenue regulation principle, when is Performance Achieved?2、Why is reve

58、nue typically recognized on delivery?3、Describe the cost recovery method of recognizing revenue, when is it appropriate?4、Describe the Installment Sales method of recognizing revenue, when is it appropriate?5、Why is expense Recognition dependent on the revenue ignition point?Lesson 5Leases課時：2周，共6課時教學(xué)內(nèi)容In the previous four lessons you studied liability and equity issues. This lesson introduces another common form of financing a lease arrangement.A lease is a conveyance of prop